The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-12-08
Excess Of exports. 44,Oss,e94 o. 1868,

hACesS OIL OK pOTuS.. 44,Oob,o5a 20 SOD, 440
HOW OUR COMMERCE Is CARRIED
Our foreign commerce. carried in vessels
of the United States, measured by its value.
has steadily declined from rs per cent. in
1856 to less than IA per cent. in 1887. Even
of this small percentage less than one-half
was carried in steam vessels bearing our
flag.
A citizen of the United States may buy
foreign-built vessel in foreign port; he
may put the United States flag upon it and
trade with all the countries of the world
except his own. Our government will pro-
tect him with all its power in such trade;
but if be brings his ship with our flag upon it
to one of our ports our government win con-
hacate 1t or impose prohibitory duties. He
may, however, put the flag of any other
country on that same ship. and bring it to
his home without molestation by our gov
ernlpent; 1t is then protected by the power
of foreign country. 1t is difficult to I'M
derstand why il would not be we'll to so
change our navigation laws as to allow for
eign built ships owned by our citizens to
come and go between this and other ccun-
tries while bearing the flag of the country
of their owners.
CURRENCY CIRCULATION.
The circulation of coin and paper in de-
nominations of twenty dollars and less,
from July l, 1886, to Nov. l, 1887, shows a
net increase of about S109, 000, 000 thus,
nearly the whole of the increased circula-
ton was in the form of small money. The
increase in the total circulation was caused
by ordinary payments, made in pursuance
of law, by the purchase of bonds, and by
increasing deposits in national bank depos-
itories The increase in the circulation of
small money was because the government
met the peoples request for it SO far as it
could
L. Ill
held for the gold and silver certificates in
circulation, it is found that the government
owned $50, S27, S98 less gold coin, and 80,
675, 766 less standard silver dollars ON Nov.
/, 1887, than it did ON July /. 1856; during
the intervening period As, 81 standard
silver dollars were coined.
STANDARD SILVER DOLLARS.
One of the most interesting facts shown
by the foregoing statements is the decrease
in the number Of standard silver dollars
owned by the government and the increased
use of the same money by the people in the
form of silver certificates The five, two
and one dollar certificates furnish con-
venient currency, and it is evident that the
future use of the silver dollar will be almost
exclusively in that form.
1t is waste to coin and store any more sill
yer dollars at present. There is no function
which those chat are coined after this time
viii probably ever perform, except to lie in
government vaults and be basis upon
which silver certificates can DE issued. 1t
Is seldom that any one wishes to have his
silver certificate exchanged for the silver
dollar itself. consequently limited number
of coined dollars will perform the work of
redeeming certificates. The $214 000, 900
which are now in the Treasury will more
than suffice to redeem, as they may be pre-
scented from time to time, the silver certif-
Gates that have already been issued or that
can be issued against all the dollars which
viii be coined for years to come under the
present law.
NATIONAL BANKS.
During the year ending OFT. 81, 1887,
there have been 225 new banks organized
capital, $40, 546, 600; circulation $4,000, 375.
Thirty-three banks have been closed dur
ing the same period, of which twenty-five